As the crypto market continues to gain increasing mainstream popularity, crypto exchanges play a critical role by ensuring a constant supply of liquidity. There are over 500 crypto exchanges, with many more launching almost every other day. While many factors determine the best crypto exchange, the volume has always been the major determinant. Volume refers to the value of crypto traded over a particular exchange during a specific period; it is an indicator of its liquidity. This means that trading is seamless in exchanges with high volumes. Here’s our pick of crypto exchanges by volume in the spot market! Binance Binance ranks as the top crypto exchange with an average daily traded volume of over $29.1 billion. There are various reasons why Binance is one of the top crypto exchanges. One of the reasons is the large selection of different altcoins. Currently, more than 1200 coins and tokens are traded here daily. With the Launchpad, developers get the chance to host an IEO (Initial Exchange Offering), where they offer their cryptocurrencies for sale for the first time. It is then listed on the platform. That means there is a steady influx of new cryptocurrencies. It is also screened out and cryptocurrencies that are no longer supported or have too little trading volume disappear from the platform with time. Upbit Upbit is headquartered in South Korea and has been operation since 2017. Although it is lesser-known, it has an estimated daily volume of about $9.6 billion. The exchange has 147 tradable cryptos covering over 219 markets. The only drawback is that the exchange only supports deposits in South Korean Won (KRW). Regardless of the strong KYC requirements for Upbit users, it doesn’t provide services to U.S. citizens due to the complexity of U.S. regulations. Tokocrypto Tokocrypto is an Indonesian crypto exchange launched in September 2018. As of this publication, it has a daily trading volume of about $20.102 billion. It is one of the few exchanges that tries to bridge the gap between CeFi and DeFi. The exchange has about 119 tradable cryptos in over 175 markets. Note that U.S. citizens can trade on Tokocrypto. ZG.com ZG.com was launched in July 2018 and is headquartered in Singapore with multiple offices in the U.S., Japan, South Korea, Malaysia, Hong Kong, and Taiwan. As of this writing, it has a daily trading volume of about $5.58 billion. The exchange offers 42 tradable crypto assets in about 46 markets. It doesn’t explicitly prohibit U.S. citizens from trading on the platform. Huobi Global Huobi is one of the oldest and most established crypto exchanges. It was launched in 2013 in China. It has since moved its headquarters to Seychelles. It also has regional offices in offices in Japan, Hong Kong, Mainland China, and Korea. It has an average daily volume of $5.5 billion. The exchange offers about 330 tradable crypto assets in over 900 markets. It allows deposits in cryptos and over 47 fiat currencies. Despite its prominence, U.S. citizens aren’t allowed to trade on Huobi exchange. Hotcoin Global Hotcoin Global was launched in 2017 and is headquartered in Sydney, Australia. It has an average daily trading volume of about $5.4 billion. The exchange offer about 147 tradable crypto assets in over markets, and it only accepts crypto deposits. The exchange doesn’t explicitly prohibit U.S. citizens from trading. OKEx OKEx was launched in 2014 in Hong Kong. Its headquarters has been moved to Malta. It has a daily average trading volume of about $5.32 billion, offering over 270 tradable assets in 625 markets. U.S. investors are prohibited from trading on OKEx. Tokencan Tokencan was launched in 2017 and is headquartered in Singapore. It is a versatile platform with various projects, including Miss Coin Project Incubator, Merit Wall, Mr. Game Platform, Mining Pool Mall, Oripay, and Sheep Ticket. It has an average daily trading volume of about $5.26 billion with 45 tradable crypto assets in 46 markets. Tokencan doesn’t allow U.S. citizens to trade on the platform. Coinbase Exchange Coinbase Exchange is perhaps one of the most famous crypto trading platforms. It was launched in 2012 in San Francisco, California, making Coinbase one of the oldest crypto exchanges in the world. It has an average daily trading volume of about $4.07 billion, with 78 tradable crypto assets in over 241 markets. The services offered by Coinbase include; Coinbase brokerage service, crypto trading services via Coinbase Pro, Coinbase wallet, and Coinbase merchant solutions. Coinbase is particularly popular in the USA but is also one of the top crypto exchanges with the best reputation on the European market. For experienced traders, there is also the Coinbase Pro version of the platform. Bottom Line Choosing a good crypto exchange depends on several factors. Above all, the exchange and its reputation, the size of the exchange, the available trading options, and the fees are considered. The other selection criteria are user-friendliness, the level of security, the availability of current news from the crypto world, trading tools, tools for analysis, and the quality of customer support. CoinMarketCap tracks over 300 crypto exchanges, ranking them based on various metrics, including the legitimacy of the traded volume, web traffic, and liquidity. Consider checking their website for more details regarding any crypto exchange or cryptocurrency.